ACH vs. Paper Check Flashcards
1
Q
Originator
A
Payee
2
Q
ODFI
A
Bank of First Deposit
3
Q
ACH Operator
A
Correspondent Bank
4
Q
RDFI
A
Paying Bank
5
Q
Receiver
A
Payor
Originator
Payee
ODFI
Bank of First Deposit
ACH Operator
Correspondent Bank
RDFI
Paying Bank
Receiver
Payor